Michael Grimes, a technology banker with Morgan Stanley , is in talks to leave the bank for a position in U.S. President Donald Trump's administration, the Wall Street Journal reported on Wednesday, citing people familiar with the discussions.

Star technology banker Michael Grimes is in discussions to leave Morgan Stanley to work for the Trump administration, according to people familiar with the matter. Grimes is among the biggest names in banking,

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Morgan Stanley eyes crypto expansion under Trump, collaborates with regulators on digital asset adoption and institutional services.

The chief executive of banking giant Morgan Stanley reportedly says the firm is willing to work with US regulators on crypto offerings.

On Wednesday, Morgan Stanley (MS) stock saw a decline, ending the day at $136 which represents a decrease of $-1.30 or -0.95% from the prior close of $137.3. The stock opened at $137.26 and touched a low of $135.82 during the day, reaching a high of $138.38. The volume of shares traded was 7.02 million exceeding the average volume of 6.73 million.

The CEO also said he is ‘bullish’ on the potential for stock sales, including initial public offerings in 2025.

Investors often prefer to invest in shares held by company insiders, as management is typically more aligned with the company’s success and shareholder interests. Currently, insiders own just 2.03% of Sonos Inc (SONO)’s shares, while financial institutions hold 90.97%.

Morgan Stanley said its profit more than doubled in the fourth quarter, fueled by its investment banking and trading businesses. Profit surged 145% to $3.71 billion. That amounted to $2.22 per share,

Sherry Paul, Morgan Stanley private wealth advisors and senior portfolio manager, joins CNBC's 'Closing Bell' to discuss market outlooks.

On Wednesday, Microsoft ( MSFT, Financial) shares grew nearly 3% despite Morgan Stanley lowering their price target from $548 to $540. However, the investment company kept its Overweight rating to reflect its belief in Microsoft's future growth while standing behind Microsoft's market leadership and new artificial intelligence technology prospects.